?? Bitcoin slows down after Easter rally. What do analysts predict for this week?
Hello TradeSantians,
As March ends with BTC being up 18.6%, let's see what the first week of April has in store for us!?
Everyone was feeling bullish
Last week, all the top bots were trading long. Going long on TFUEL brought 47% profitability.
?? More winning strategies on the TradeSanta marketplace.?
*7-day profitability is calculated based on the?profit target?multiplied by the number of deals.?
BTC Goes Down, Technical Indicators Show Buy
Price Dynamics (7d)?
BTC $68,838 ???0.45%
ETH $3,516 ?? 1.35%
BTC Technical Indicators Show?Buy?(1d)
Oscillators: Neutral?(2 Sell, 8 Neutral, 1 Buy)?
Moving Averages: Strong Buy (1 Sell, 1 Neutral, 12 Buy) ?
Fibonacci's Pivot for BTC?
Take a look at Fibonacci's Support (S) and Resistance (R) levels for BTC if you wonder where to place your Stop Loss and Take Profit. ?
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BTC vs USDT As Quote Currency
Which is preferable as a quote currency?
In our blog post, we've compiled expert opinions to discuss which coin is best suited for different trading scenarios.
Crypto Week: Predictions & Highlights
The market has started the week fairly flat as major financial centers remain closed for Easter. At the time of sending this email, Bitcoin was trading at $68,838, down 2.30% in the last 24 hours. Ethereum gave up some ground on Monday, losing some of the gains seen over the weekend. It is currently trading at $3,516.
Now, let's explore the market predictions and the main headlines of the previous week.
Next crypto targets
Popular trader and analyst @RektCapital?is optimistic, saying his X followers that Bitcoin could easily challenge the top of its range in order to confirm it as longer-term support before using this as a basis for fresh upside: “Bitcoin has kickstarted the breakout process. Weekly Close above the Range High is the 1st step. And if $BTC needs to dip into the RH to successfully retest it as new support before continuing higher... That would be the 2nd step to fully confirming the breakout.”
CryptoQuant's analyst @CryptoQuant_NL spotted a massive $1.4 billion USDC deposit on Coinbase a few days ago. This could signal strong buying pressure, as these stablecoins are often used to buy Bitcoin. Interestingly, the only other deposit this large was on Jan 9th, 2023, which preceded a major price surge from the cycle's low of $16,800.
Fellow trader @Ali_cahrts reflects on Ethereum's scenarios, with the most brutal being a breach of the $3,400 support level. This move could confirm a bear pennant formation on the daily chart, potentially triggering a major correction for ETH down to $2,800.
Insights into key events in the industry
??Sam Bankman-Fried sentenced to 25 years in prison for his role in collapse of FTX crypto exchange.
??Federal prosecutors charged KuCoin, one of the world's largest cryptocurrency exchanges, with violating U.S. anti-money laundering laws by failing to verify customers, allowing billions of dollars in illicit funds to be transferred since its founding in 2017.
??Crypto exchange CommEX, the owner of Binance's former Russian operations, plans to completely shut down its website on May 10, according to a blog post.
??One of two Binance executives detained in Nigeria has escaped custody, while the Nigerian government has filed new tax evasion charges against the global cryptocurrency exchange.
??An unknown individual or entity who received 2,000 BTC in mining rewards in 2010 have brought all of the rewards together in a single wallet.
For more market updates and news, follow us on Twitter!